6 BENEFITS OF BLACKLINE
BENEFIT #1 GET A FASTER, BETTER
CLOSE WITHOUT WORKING OVERTIME!
BENEFIT #3 LOWER THE COST OF YOUR
FINANCIAL CLOSE USING BLACKLINE
By standardizing, organizing and automating many of the
processes around month-end close, accountants can reduce
their work load, spend more time on value added tasks and
avoid the late night number crunching. Dashboards and realtime information allow management to see the status of the
close process thus allowing them to quickly and easily identify
any issues that may compromise the financial close timeline.
BlackLine can help you save money in the following
areas: time spent preparing reconciliations and manual
journals (25-65% reduction), time spent tracking and
reporting on status of the close, time spent reviewing and
approving by senior staff, paper and printing costs, storage
costs, and audit-related time and materials. Features
like auto-certification of low-risk account reconciliations
and real time notifications allows for seamless and more
efficient workflows. Auditors can also benefit by accessing
BlackLine to review account reconciliations, supporting
documentation and the appropriate workflows without
having to wait on the staff to locate documents and
make photo copies. BlackLine has helped hundreds of
companies streamline their close activities and significantly
reduce the cost of the close.
BENEFIT #2 IMPROVE THE QUALITY OF
YOUR ACCOUNT RECONCILIATIONS WITH
AUTOMATION & STANDARDIZATION
With so much time being spent on data entry (GL and
Subledger balances, supporting items, documents and
comments) accountants and management are left with very
little time, if any, to truly analyze the risk within their financial
statements. With the automatic creation, population, and
certification of certain low risk reconciliations (such as zero
balance accounts, subledger matches, prepaids and many
others) accountants can shift their time and skills to the highrisk accounts and other value added activities. Standardized
templates (Accruable, Amortizable Prepaid, Bank Account,
Calculated Balance, Subledger Match and more) guide the
preparer into proper reconciliation techniques instead of roll
forwards, regurgitation, and plugs. Standardized workflow,
reporting, and auditing tools guarantee that no accounts are
missed and exceptions are identified proactively.
“We have found that the
visibility gained from BlackLine
has driven quality and consistency
across the organization.”
– Ann Mayfield, Controller, Sirius XM
BENEFIT #4 VIRTUALLY ELIMINATE SPREADSHEET
ERRORS, BINDERS, PAPER AND STORAGE COSTS
FROM YOUR FINANCIAL CLOSE PROCESS
Enough said...
BENEFIT #5 EXPANDED CONTROL AND VISIBILITY
Some common challenges around the month-end close
are making sure that the financial information is accurate,
deadlines are met, and policies and procedures are
consistent throughout the organization. This is even more
of a challenge for global or decentralized companies
with multiple currencies and languages. BlackLine’s real
time dashboards and robust reporting capabilities allow
management up-to-the-minute visibility into all locations
to better monitor the progress of all close activities
throughout the organization.
BENEFIT #6 ENSURE BALANCE SHEET INTEGRITY
A company’s balance sheet is the most comprehensive
indicator of how a company is doing. Ensuring that this
information is accurate is extremely critical but not always
easy to achieve. BlackLine’s Financial Close Suite optimizes
the entire close process so that CFO’s, Controllers and
Auditors can confidently rely on the integrity and accuracy
of the numbers.
info@blackline.com
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